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Industrial Absorbent Market | Covid-19 Impact Analysis
The Industrial Absorbent Market is segmented by Material Type (Natural Organic, Natural Inorganic, and Synthetic ), by Product Type (Pads, Rolls, Pillows, Granules, Booms & Socks, Sheets & Mats, and Others), by Utility Type (Universal, Oil-Only, and HAZMAT/Chemical), by End-Use Industry Type (Oil & Gas, Chemical, Food Processing, Healthcare, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Industrial absorbent market is likely to witness an impressive CAGR of 4.8% during the forecast period. The prime factor that is contributing to the demand for industrial absorbents is mainly the growing sternness of environment-related regulations on chemical and oil spills, which is driving the market.
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Industrial Absorbent Market - Snapshot |
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Growth |
4.8% for the next five years |
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Major Material Type |
Synthetic |
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Key Product Type |
Booms & Socks |
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Major Utility Type |
Hazmat/Chemical |
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Dominant End-Use Industry Type |
Chemical |
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Region with the highest demand |
Asia-Pacific |
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Key Players |
The 3M Company, Brady Corporation, Decorus Europe Ltd., Johnson Matthey Plc, Kimberly-Clark Professional, Meltblown Technologies Inc., Monarch Green, Inc., New Pig Corporation, and Oil-Dri Corporation of America. |
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Based on the material type, the market is segmented as natural organic, inorganic, and synthetic. The synthetic segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The quality of results offered by synthetic absorbent is driving the growth of this segment.
Based on the product type, the industrial absorbent market is segmented as pads, rolls, pillows, granules, booms & socks, sheets & mats, and others. The booms & socks segment is expected to grow with a lucrative CAGR over the forecast period owing to the growing incidences of accidental spills in marine areas.
Based on the utility type, the market is segmented as universal, oil-only, and HAZMAT/chemical. The HAZMAT/chemical segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. Stringent government regulations for hazardous chemical spills in industrial as well as commercial environment is driving the growth of this segment.
Based on the end-use industry type, the industrial absorbent market is segmented as oil & gas, chemical, food processing, healthcare, and others. The chemical segment is expected to grow with a promising CAGR over the forecast period owing to rising cases of chemical spillage during transportation.
In terms of regions, Asia-Pacific is estimated to be the fastest-growing industrial absorbent market during the forecast period, with China, Japan, India, and South Korea being the major countries with promising growth opportunities. The growth of the market is driven by the introduction of various government initiatives to reinforce environmental regulation to spill response. North America and Europe are also anticipated to offer significant growth opportunities over the forecast period.
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Some of the major industrial absorbent manufacturers are-
Industrial absorbent can be defined as a mixture of materials that are insoluble in nature. Absorbents are used to absorb liquid by picking up and holding it in a material. This material has the capacity of holding water that causes it to swell. In various industries, such absorbents are used as they are helpful in dealing with chemical as well as oil spills.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Industrial Absorbent Market Research Report – Features |
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Market Segmentation |
5 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The industrial absorbent market is segmented into the following categories.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
The industrial absorbent market is expected to witness an impressive growth of 4.8% CAGR in the foreseeable future.
Brady Corporation, The 3M Company, Johnson Matthey Plc, Decorus Europe Ltd., Kimberly-Clark Professional, Meltblown Technologies Inc., Monarch Green, Inc., New Pig Corporation, and Oil-Dri Corporation of America are among the key players in the industrial absorbent market.
The Asia-pacific is expected to be the fastest-growing industrial absorbent market during the next five years.
The synthetic segment is expected to remain dominant material type in the industrial absorbent market in the coming years.
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